I have also a recent editorial from the London Times. which admits that Asiatic competition and the gold standard are ruining everybody in England except idle holders of wealth. Commenting upon the marvelous growth- of Japanese manufacturing. the article says: The results already achieved are undoubtedly calculated to strike the im agination at first sight with astonishment and alarm. The most conspicuous of these results are those connected with the cotton industry. In 1885 Japan imported only $800.000 worth of raw cotton. in 1894 she imported 19.500.000 worth. or more than four and twenty tnes as much. At the beginning of 1885 there were 19 spinning mills. with about 50.000 spindles. in Japan. ana at the end of 1893 there were 46. with about 000.000 spindles.